Kraken Sonar Systems acquires all Intellectual Property (IP) rights to the AquaPix® Synthetic Aperture Sonar (SAS) technology platform from Marport Deep Sea Technologies Inc. The SAS technology assets consist of all hardware and software intellectual property targeted to military and commercial applications. The transaction had an effective closing date of December 31, 2012. A number of different underwater activities rely on high quality seabed imaging. Offshore exploration, ocean science, seabed mapping and military missions are examples of applications with growing demands for improved seabed image resolution. Until recently, sidescan sonars and multibeam echo-sounders have been the leading technology for detailed mapping and imaging of the seafloor.